British spirits company Diageo Plc has commenced an open offer to acquire a 26 per cent stake in Indian peer United Spirits for Rs. 1,440 per share. According to Nikhil Vora, managing director at IDFC Securities, the open offer was unlikely to succeed because investors are not looking to exit United Spirits right now. "Many investors have been on the fence here and that will change drastically... there will be a fair bit of investor appetite," he added.
